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Abbott (ABT) Stock Sinks As Market Gains: What You Should Know
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Abbott (ABT - Free Report) closed the most recent trading day at $68.53, moving -0.77% from the previous trading session. This change lagged the S&P 500's 0.3% gain on the day. Elsewhere, the Dow 0%, while the tech-heavy Nasdaq added 0.92%.
Prior to today's trading, shares of the maker of infant formula, medical devices and drugs had gained 0.71% over the past month. This has outpaced the Medical sector's loss of 2.51% and the S&P 500's loss of 4.37% in that time.
ABT will be looking to display strength as it nears its next earnings release, which is expected to be January 23, 2019. On that day, ABT is projected to report earnings of $0.81 per share, which would represent year-over-year growth of 9.46%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.79 billion, up 2.64% from the year-ago period.
ABT's full-year Zacks Consensus Estimates are calling for earnings of $2.88 per share and revenue of $30.61 billion. These results would represent year-over-year changes of +15.2% and +11.74%, respectively.
Investors should also note any recent changes to analyst estimates for ABT. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.02% higher. ABT is currently a Zacks Rank #3 (Hold).
In terms of valuation, ABT is currently trading at a Forward P/E ratio of 23.96. This valuation marks a discount compared to its industry's average Forward P/E of 24.53.
Also, we should mention that ABT has a PEG ratio of 2.05. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Medical - Products stocks are, on average, holding a PEG ratio of 2.24 based on yesterday's closing prices.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 93, putting it in the top 36% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Abbott (ABT) Stock Sinks As Market Gains: What You Should Know
Abbott (ABT - Free Report) closed the most recent trading day at $68.53, moving -0.77% from the previous trading session. This change lagged the S&P 500's 0.3% gain on the day. Elsewhere, the Dow 0%, while the tech-heavy Nasdaq added 0.92%.
Prior to today's trading, shares of the maker of infant formula, medical devices and drugs had gained 0.71% over the past month. This has outpaced the Medical sector's loss of 2.51% and the S&P 500's loss of 4.37% in that time.
ABT will be looking to display strength as it nears its next earnings release, which is expected to be January 23, 2019. On that day, ABT is projected to report earnings of $0.81 per share, which would represent year-over-year growth of 9.46%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.79 billion, up 2.64% from the year-ago period.
ABT's full-year Zacks Consensus Estimates are calling for earnings of $2.88 per share and revenue of $30.61 billion. These results would represent year-over-year changes of +15.2% and +11.74%, respectively.
Investors should also note any recent changes to analyst estimates for ABT. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.02% higher. ABT is currently a Zacks Rank #3 (Hold).
In terms of valuation, ABT is currently trading at a Forward P/E ratio of 23.96. This valuation marks a discount compared to its industry's average Forward P/E of 24.53.
Also, we should mention that ABT has a PEG ratio of 2.05. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Medical - Products stocks are, on average, holding a PEG ratio of 2.24 based on yesterday's closing prices.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 93, putting it in the top 36% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.